Halozyme Therapeutics, Inc. · NASDAQ:HALO
Halozyme Therapeutics — Q1 2026 Earnings Presentation
17 slides from Halozyme Therapeutics's earnings presentation, May 11, 2026
Slide 1: First Quarter 2026 Financial & Operating Results
Halozyme Therapeutics, Inc. First Quarter 2026 Financial & Operating Results Nasdaq: HALO May 11, 2026 1
Slide 2: Forward-Looking Statements
Forward-Looking Statements In addition to historical information, the statements set forth in this presentation include forward-looking statements including, costs, unexpected results or delays in the growth of the combined group’s business, or in the development, regulatory review or without limita
Slide 3: Started 2026 with Exceptional Momentum
Started 2026 with Exceptional Momentum Continued strong performance of currently approved products provides conviction in 2026-2028 financial guidance • Expansion of indications for DARZALEX® SC and VYVGART® Hytrulo support strong momentum Recent new deal momentum, new partner target nominations and
Slide 4: Launched ENHANZE Products Support Strong 1Q 2026 Financial Results
2026-2028 Time Frame: 10 Launched ENHANZE® Products Support Strong 1Q 2026 Financial Results $377M $241M Total Revenue Royalty Revenue +42% +43% $230M $1.60 Adjusted EBITDA1 Non-GAAP Diluted EPS1 +42% +44% 1 Reconciliation between GAAP reported and Non-GAAP financial information for actual results a
Slide 5: Reaffirming Full Year 2026 Guidance and 2026-2028 Financial Projections
Reaffirming Full Year 2026 Guidance and 2026-2028 Financial Projections 2024 2025 2024-2028 $M, except EPS (unaudited) 2026 2027 2028 $ in Millions, except EPS Actual7 Actual7 CAGR Total Revenue 1,015.3 1,396.6 1,710-1,810 1,920-2,045 2,045-2,170 19-21% Royalties1 571.0 867.8 1,130-1,170 1,365-1,415
Slide 6: Four Key Areas of Capital Deployment
Four Key Areas of Capital Deployment Maximize Organic Return Capital to Deleveraging M&A Investments Shareholders ✓ Support partner success ✓ Announcing new $1B ✓ Delever by retiring ✓ Continue to evaluate share buyback remaining 2027 and 2028 M&A drug delivery authorization convertible notes at opp
Slide 7: Four Key Sources of Revenue in 2029+
Four Key Sources of Revenue in 2029+ 1 10 Current Launched ENHANZE® Products 2 13 Projected ENHANZE® Launches in 2029+ 3 2 Projected Hypercon Launches in 2030/2031 15 additional target opportunity from 5 signed Hypercon CLAs 4 Multiple Hypercon targets advancing in early testing 3 recent new ENHANZE
Slide 8: Drivers of Revenue 2029+
Drivers of Revenue 2029+ 1 2 3 10 Current Launched 13 Projected ENHANZE® 2 Projected Hypercon ENHANZE® Products Launches in 2029+ Launches in 2030/2031 • Generated 25% of projected • 7 ENHANZE ® targets currently in • Invest in manufacturing capacity potential royalties to end 2025 development • 2 P
Slide 9: ENHANZE Hypercon Collaboration and Licensing Agreements
Drivers of Revenue 2029+ New target nominations arising from current partner Collaboration and Licensing Agreements • 15 additional Hypercon targets, and tens of ENHANZE® targets available New ENHANZE® and Hypercon Collaboration and Licensing Agreements: ENHANZE® Hypercon Hypercon ✓ Multiple promisi
Slide 10: Top ENHANZE Revenue Drivers
Top 3 ENHANZE® Revenue Drivers Total DARZALEX® IV+SC Revenue PHESGO® Revenue VYVGART® & VYVGART® Hytrulo Revenue Based on Analyst Estimates 1 Based on Analyst Estimates1 ($B) ($B) Based on Analyst Estimates2 ($B) $8.5 $20.0 $3.5 $18.4 $3.4 $3.4 $7.0 $16.5 $6.0 $14.4 $4.1 $3.0 1Q 12% 1Q 686M 4% 1Q 28
Slide 11: Analyst Estimates Project Opportunity of ~$30B in Total Brand Sales in 2028
Analyst Estimates Project Opportunity of ~$30B in Total Brand Sales (IV+SC) in 2028 From Four Recently Launched ENHANZE® Products1 OCREVUS ZUNOVO® OPDIVO QVANTIG ® TECENTRIQ HYBREZA® RYBREVANT FASPRO U.S. Approved September 2024 U.S. Approved December 2024 U.S. Approved September 2024 U.S. Approved
Slide 12: Summary Highlights
Summary Highlights New $1B share repurchase program, at least $400M in 2026 Reaffirming full-year 2026 financial guidance and 2026-2028 guidance ranges Four drivers of 2029+ growth • 10 approved ENHANZE® products with one additional potential approval projected in 2027 • 13 ENHANZE® products in deve
Slide 13: 1Q 2026 Financial Highlights
1Q 2026 Financial Highlights $ in Millions, except EPS (unaudited) 1Q 2026 1Q 2025 % Change Royalties $240.7 $168.2 43% Product sales, net $130.4 $78.0 67% Collaboration revenues $5.6 $18.6 (70)% Total Revenues $376.7 $264.9 42% Cost of sales $79.2 $48.4 64% Amortization of intangibles $29.5 $17.8 6
Slide 14: Continued Strong Royalty Momentum Drives Strong 2026 Guidance
Continued Strong Royalty Momentum Drives Strong 2026 Guidance 2025 2026 YOY YOY Actuals GUIDANCE1 CHANGE ($) CHANGE (%) • Growth primarily driven by Total $1,396.6 $1.710M – 1.810B $313M – 413M 22% – 30% increases in royalty revenue and Revenue product sales from API Royalty • Mainly driven by Darza
Slide 15: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations 15
Slide 16: GAAP to Non-GAAP Reconciliation: EBITDA and Adjusted EBITDA
GAAP to Non-GAAP Reconciliation: EBITDA and Adjusted EBITDA $ in thousands (unaudited) (1) Adjustment relates to litigation costs incurred by Halozyme in connection with Halozyme’s patent infringement litigation against Merck Sharp & Dohme LLC (“Merck”). These charges are excluded because the Compan
Slide 17: GAAP to Non-GAAP Reconciliation: Net Income and Diluted EPS
GAAP to Non-GAAP Reconciliation: Net Income and Diluted EPS $ in thousands, except per share amounts (1) Adjustment relates to litigation costs incurred by Halozyme in connection with Halozyme’s patent infringement litigation against Merck. These charges are excluded because the Company does not bel
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